A Wierd Contemporary Counterfeit From China 1920

Normally I detest counterfeits with passion but this one stumped me with good reason.

This coin is supposedly from Guangdong Province dated 1920. An original coin would look like this and weighs around 5.3 grams.



This is the supposedly contemporary counterfeit



Could have passed on as a terribly oxidized silver that's banged up. Details look surprising good with reeded edge and I think this is either struck or cast in lead zinc alloy. You can write with this coin, i.e. if you rub the coin on a paper, you can write on it although it's not clear. Not too sure if this metal is right as it weights at a mere 4.41 grams. Maybe you can help me work out what the possible alloy is?

You normally see a lot of Chinese counterfeits that's struck in cheap iron / nickel alloy and they normally target crown size coins. I guess this is a counterfeit that was produced in the early days.